va loans: Advice From the VA on Foreclosure Avoidance - 01/18/11 10:30 AM
Today JP Morgan Chase is paying out $2 Million Dollars to military families in regards to improper foreclosures and violating interest rate limits covered under the Servicemembers Civil Relief Act. It is a reminder that if you are a military family facing foreclosure to make sure you understand your rights.If you have a VA loan and are having issues with your lender call your regional office or the Department of Veterans Affairs for assistance.
Via Bruce Reichstein (VALoans.com - Expert VA Loan Officer - Refer a Veteran):
Borrowers who apply for VA mortgages don’t buy their homes with the … (4 comments)
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va loans: VA Loan Funding Fees: Who Is Exempt and Why - 11/24/10 05:36 PM
Since I work with a number of buyer's who want to use VA loans one of the first questions I ask is if they are exempt from the funding fee. Some of them don't realize that they could be. It is always a good question to ask as it saves thousands of dollars and can make a difference on how you might structure your offer on the new home you want to buy.
Via Bruce Reichstein (VALoans.com - Nationwide Expert VA Loan Officer - Vets 1st):
VA borrowers are required to pay a VA loan funding fee, either up front … (0 comments)
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va loans: What Properties Are Eligible for a VA Home Loan? - 09/29/10 06:42 PM
As an agent who works with a significant number of active duty military and retirees in the Northern Virginia area understanding VA loans is important.The following information about VA loans is important reading for anyone who is wondering whether the property they are considering buying is eligible for a VA loan.
If you have VA eligibility and live in the Northern Virginia area give me a call at 703-346-2213 to talk about whether buying a home is the right thing for you in today's market. No hassle, no pressure, just straight talk about real estate in Northern Virginia.
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va loans: VA Loans, Current Military Members and Military Allowances - 09/22/10 07:32 AM
New BAH rates for 2011 have not been posted yet. But it is ancipated with the proposed low pay raises in play for the military in 2011 (less than 2.0%) the BAH rates may not increase. However if as pointed out you are looking at a promotion in the near future the BAH rate for the next grade in service can help you with your VA mortgage.If you are relocating to Fort Belvoir, the Pentagon, Quantico or anywhere in the Military District of Washington in the near future give me call at 703-346-2213 to talk about your housing options while … (0 comments)
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va loans: Getting VA Loan Eligibility Online - 09/14/10 06:04 PM
Located close to numerous military installations in our area I have the privilege of working with active duty and military retires eligible to us VA home loan benefits. Getting your VA Certificate Eligibility is one of the first steps to securing your VA loan. Check out the link below to settign home your account to get your own VA Certificate of Eligibility.
Via Bruce Reichstein (VALoans.com - Nationwide Expert VA Loan Officer - Vets 1st):
I’ve mentioned before that the very first step in getting a VA loan is applying for eligibility from the Department of Veterans Affairs. I’ve also … (2 comments)
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va loans: Northern Virginia-VA Appraisals and the Borrower’s Responsibilities - 09/09/10 10:35 PM
A VA Appraiser is not a Home Inspector and shouldn't be thought of as one. A VA Appraiser doesn't spend the same amount of time in the home you are purchasing and look at the home with the same set of trained eyes as a home inspector. They also don't leave you with a book full of information on the current condition of your home and maintenance tips for the future.
Via Bruce Reichstein (VALoans.com - Nationwide Expert VA Loan Officer - Vets 1st):
We in the VA loan business—real estate agents, lenders, brokers, and property inspectors, etc.—throw around … (2 comments)
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va loans: Military Families-Options if you are Upside Down on Your Mortgage - 12/26/09 05:40 PM
In a real estate market where prices have declined military families with PCS orders face a difficult decision. Do you hold on to your home and rent hoping for prices to rebound in another 3-5 years or attempt a short sale and hope that your lender will consider PCS orders a "hardship?"There are two other options that may be available for you to consider as weill. Military families stationed at Fort Belvoir, the Pentagon, Quantico and other Military District of Washington installations who purchased a home prior to July 1, 2006 may find that Homeowner Assistance Program (HAP) may offer some … (24 comments)
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va loans: Three Tips To Help You Present an Offer To Purchase With FHA or VA Financing - 12/23/09 08:43 PM
This is good information for anyone who worries that a VA or FHA loan has more restrictions on it than a conventional loan. Understanding your local market, working with an agent you can trust and a mortgage professional with experience with FHA and VA loans will get you into your new home in 2010.
Via America's #1 Mortgage Broker/858-777-9751:
If VA home loans and FHA mortgages are great for buyers, why won't sellers accept them? Debbie Rumsey suggested as much when she commented on my post about VA condo complex approvals, here on Active Rain.
Here is how real estate agents can debunk … (5 comments)
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va loans: Northern Virginia Buyers Are Turning to FHA & VA Loans in Droves - 06/22/09 08:46 PM
We see dozens of marketing reports posted every day about total sales and sales prices in Northern Virginia. We know sales prices are down. Recently we have been able to report that the total number of sales have increased from 2008-2009, brought on by lower prices and lower interest rates. One set of numbers that you don't see reported often is how are the home purchases being financed?Let's just say simply, FHA and VA rule!
A quick glance at a comparison between May 2008 and May 2009 shows just how significant the increase is.
There have been a … (2 comments)
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va loans: Military Relocation-What a Difference a Year Makes for VA Loans - 05/02/09 06:35 AM
Most of us working during the "hot market" in Northern Virginia in 2002-2005 fought to get a seller to accept a VA loan. Today sellers realize VA loan benefits are the one of the hottest tickets in town.March statistics in Prince William County show that 107 VA loans were used to close properties as compared to 70 in 2008 and 14 in 2007. VA loan benefits are the best and the only 100% financing options available for military families and qualified civilians.There seems to be a rumor flying around Northern Virginia that you can't use a VA loan to buy a … (3 comments)
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va loans: Fort Belvoir Relocation-Don't Forget Your VA Loan Benefits - 04/24/09 06:42 AM
As the mortgage market continues to shift away from the risky loans of the past five years, active duty and qualified retirees are rediscovering one of the great benefits at their disposal. VA loans were often overlooked when the market was hot pushing military families to choose other loan products some of them potentially risky adjustable rate mortgages.
Today the VA loan is one of the few dependable 100% financing options left. Buyers are required to pay your own VA funding fee which can be financed as part of the loan and the funding fee is waived for disabled veterans. With … (2 comments)
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va loans: VA Loans-One of the Great Benefits for Military Families - 05/21/08 08:25 AM
If it hadn't been for the VA home loan program I never would have been able to buy my first two homes! Now years later I'm helping military families transitioning to Fort Belvoir, Quantico or anywhere in the Military District of Washington use the VA Home Loan Program to buy homes.
There seems to be a rumor flying around Northern Virginia that you can't use a VA loan to buy a foreclosure property. THIS IS NOT TRUE! In the past month I've closed on two foreclosure properties in Prince William County with buyers using a VA loan without any problems. The … (13 comments)
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